Prices of most cryptocurrencies rose on Friday as the value of most digital assets rose. Bitcoin managed to stay above the $43,000 mark after a small spike of 0.30 percent. In the last 24 hours, Bitcoin has increased in value by $270 (approximately Rs. 22,460) and is now worth $43,942 (approximately Rs. 36.5 lakh). The expected approval of the Spot BTC ETF continues to support investor confidence. Given the recent price action, the market expects low volatility for BTC in the coming days.
“The pivotal meeting between Blackrock, Nasdaq and SEC on Bitcoin ETF sent strong positive signals leading to positive market sentiment. Solana leads the altcoin rally with an increase of more than 16 percent in 24 hours. As we enter the last week of 2023, the crypto market is gathering more strength to maintain the momentum into 2024,” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.
Ether followed Bitcoin's price rise on Friday. With a price increase of 2.69 percent, Ether is currently trading at $2,273 (approximately Rs. 1.90 lakh).
Most cryptocurrencies saw their prices rise on Friday. These include Binance Coin, Ripple, Cardano and Dogecoin, with Solana leading the altcoin rally with a rise of more than 16 percent in 24 hours.
Polygon, Polkadot, Wrapped Bitcoin, Shiba Inu, Litecoin and Bitcoin Cash also joined BTC and ETH on the gains side of the price chart alongside Shiba Inu, Stellar and Monero.
Meanwhile, loss-ridden cryptocurrencies on Friday included USD Coin, Leo, Elrond, Binance USD and Braintrust.
“With a 16 percent month-to-date gain and an impressive 165 percent year-to-date increase, the market is benefiting from Argentina's official adoption of Bitcoin as a currency. Additionally, El Salvador's recent legislation offering citizenship to foreign Bitcoin investors adds to the positive sentiment,” Edul Patel, co-founder and CEO, Mudrex told Gadgets 360. The total crypto market capitalization has Up 2.57 percent in 24 hours. According to CoinMarketCap, the crypto market valuation currently stands at $1.67 trillion (approximately Rs. 138,92,312 crore).
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information contained in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
